22942 Ridge Route Dr
Lake Forest, CA 92630

The William Kim Group of Marcus & Millichap is pleased to offer for sale Muirlands Retail Center, a 100% leased retail strip center in Lake Forest in Orange County, California. The center was constructed in 2010 and is comprised of 8,223 suqare-feet of rentable space on 33,858 square-feet of land at the signalized corner of Muirlands Boulevard and Ridge Route Drive. Just about a mile north of the property is Shea Baker Ranch with approximately 2,400 newly developed homes. Irvine Spectrum, UC Irvine, Portola Hills, Foothill Ranch are just short distance from the subject property. The center is currently 100% occupied by 5 tenants on NNN lease plus a cell tower for total of 6 tenants. The center is anchored by Mountain Mike's Pizza since 2010 on 10 year NNN lease with 3 -5 year options. Other tenants include Sprint Wireless Store, Mathnasium, Dental Office, Reflexology and a Verizon Cell Tower. This is an excellent opportunity to own a newer strip center with stable tenants in affluent neighborhood of Lake Forest in Orange County, California. As of last quarter of 2018, vacancy rate in the submarket is 5.7% with average rental rate of $2.90 per square-feet on triple net basis.